Piper Jaffray analyst Matt O'Brien lowered his price target for Baxter International to $72 from $83 saying the company this morning reported Q3 results that were below expectations on a reported basis and at the low end of the range on an operational basis. The main reason for revenue softness and the lowered outlook was medication delivery and nutrition, which missed the Street by 8% and 7% respectively, O'Brien tells investors in a post-earnings research note. The analyst, however, reiterates an Overweight rating on Baxter. He points out margins came in better than expected and that management reiterated their motivations on acquisitions. The setup from here for shares, "while a bit riskier after results, is solid," concludes O'Brien.